Affordable Housing in Newport Beach!

Most people have been to the Newport Beach pier and visited
the variety of tourist shops so assembled. One of the funny
postcards they sell there includes a ramshackle stick house
over a make-shift pier with the sign: "$2 million dollar
Real Estate in Newport Beach". Everyone just looks and says:
"That's about right - isn't it?"

Anyway, the story of "Affordable Housing" relates to State
mandated law....that says..."Every community is required to
set aside a reasonable amount of property for Seniors and
First Time Home Buyers." The truth of the matter is that
the children of rich people have been moving out of Beverly
Hills, Laguna Beach, Bel Aire and of course Newport Beach
since the 50's! Most kids...just couldn't afford to buy or
did they have the cash every month to make house payments.
So, those of us for example that refused to move from the
most beautiful place on earth..decided to just keep renting
until the cows come home. There were a few who dutifully
followed their parents and relatives instructions and moved
out to Riverside and Corona for 10 years....and were finally
able to move back to Santa Ana, Huntington Beach or Costa
Mesa. Most of those are still residing in those communities.
Probably one in 100 are able to make the transition back to
the old "Boyhood Home".

Everyone gets kind of confused about what is considered
"Affordability". As father Winship always espoused: "That's
all relative!" Now we don't know whether he meant that you
had to have a rich relative help you or that it depended on
what someone considers reasonable. In any event, the last
piece of "Affordable Housing" was an element placed next to
the Dunes property. We looked into the possibility of buying
a "Piece of the Rock"...which was about 975 Sq. Ft. for just
under $250K. Now to put that in perspective.....the occupants
had to both be over 65 years of age and have an annual income
of at least $85K....Perfect for those people with a big house
in Pasadena - with all the kids gone and now want a mini
retirement location. NOT!!! It would be interesting to see
who actually lives there now. If the City of Newport Beach
truly wanted to find out "who" takes advantage of "Affordable
Housing"....they probably should do a survey of those people.

Anyway, we doubt that the City of Newport Beach is going to
do much productive when it comes to "Affordable Housing". They
could we guess buy several acres in "Santa Ana Heights" and
"Redevelopment Project" it! We doubt they will be acquiring
Buck Gully soon and adding Italian condo units along side of
the seasonal run off waters! So, where do we add those pesky
"Affordable Housing Units"? Fashion Island!!! Capital idea....
Fashion Island - of course! Make the Irvine Company add 800
units there and we will have enough State Mandated "Affordable
Housing". They can add all those great Irvine Company quality
requirements for first time buyers. But, if that doesn't work
out - we can always acquire those Marriott Time Shares down in
the Newport Coast area. We can buy that property and turn all
those Time Shares into "Affordable Housing". Think of all the
nice people from Beverly Hills, Holmby Estates and Calabasas
that will move down...right away! Think of all those NBPD,
NB City Staffers, and NBFD employees that can finally live in
NB! As long as they make over $150K a year ...of course!

It's wonderful...having Government take charge of our housing
needs. Too bad it hasn't help kids that lived and grew up in
Newport Beach....get back to the old homestead!